Whose on the Silver Train?

No doubt....

The criminal manipulation in the silver market can only continue for so long. The short positions are unreal. I think a big whistle was blown early this week when a commercial bank disclosed they sold the paper equivelent of 30 million ounces, causing the "plunge" that took place in early AUG.

In any other commodity market that would result in your crucifiction.

 

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Yes you are correct, not all are...but the majority of metals is done with futures contracts...looks like I failed to type "futures".
I once played with this and got stung pretty bad.....being a savvy investor would better favor you if you went this route....all I am is a cell culture guy!
LOL....


RickieB

 

Only in to buying silver coins for my collection. Even sold off almost of my bullion and scrap coins to fuel more collecting.

Last week, my dealer seemed a little reluctant to sell coins that normally go for melt. Usually he’s happy to see them go out the door for melt, but this time I paid a premium for some common Mexican silver coins.

 

I am getting junk silver at spot. This seems to be the best way to aquire the most amount of silver for the least amount of money.

My local coin dealer virtually puts no premium on it.

Every other form of silver locally or over the internet is carrying huge premiums in relation to the spot price.

Premiums over spot are pretty hefty even on ebay at present. This is further proof that manipulation is taking place in the silver market.

 

Thats pretty cool, Joe. Good way to get the kids interested in numismatics.
Guy~

 

I plan to see silver boooom to $30, $40, $50 and then cash them all in and buy all those Morgan $ that are out of my reach.

 

Aloha Guy,
My son's name is Guy.
My boy can tell the difference between the noise 90% silver coins make and non silver. Very cool.

 

Neat plan. And just how or why do you think that is going to happen?

 

It will take a few factors that were in place last month~

Russia cutting off oil to the europe.
The further collapse of the US $
Israel bombing Iranian nuclear reactors, thus making Iran attempt to close the persian gulf leading Usa to enter war.

So far everything good.

So the other way it can go up is 8-10 years from now due to inflation...

 

AMEN TO THAT....old rule of thumb; never sell in a falling market.

 

Any time you play with futures it's risky business....

 

I think it is a great time to pick up VG or better silver dollars if you can find them in the $11 or $12 range. They really seem to hold there value when silver crashes like it just did but they also trail up when silver increases.

just my two cents!!

 

Here's a blurb from one of the sites where I buy silver eagles from. Guess I'm not going to get an offer to buy early and lock in a fixed price....


To summarize it is to say that even though the spot price of silver is way down, for dealers to replenish their inventory they are having to pay much higher premiums than normal because the coins are just not available so when the Mints do have the coins, they are being rationed to the large suppliers. Lastly, lack of availability results in higher premiums for the coins which translates to higher pricing than you would expect based on the spot price of the metals. Although it may seem a bit confusing we hope that this information will help you understand why some silver coins prices haven't reduced as dramatically as the spot price of silver has. The same is holding true for a lot of the gold coins as well. We have already seen the most dramatic rise and fall in silver over the last six months and it will be interesting to see what happens with silver and gold now that both of them have dropped down to more reasonable levels.


I think they're sitting on silver till the price goes back up. Too many of these guys bought "high" and they ain't gonna sell low, no sir.

 

I just ran across a magazine from 2005 with a ASE advertisement on the first page. At that time (when I was not collecting) you could buy up to 20 of them from this place for $9.85 a piece.

The way things are going lately, we aren't too far off from that again. Now that I've purchased a bunch of them for close to double that.

 

Thats so funny I just ran over an ad in a magazine while at the hospital selling ASE for 9.80 dealer "price" I know it was an old magazine just didnt knwo how ole... ~ Ad was from first national bank? I think.

Went to my dealer today and he wants $20 for an ase so i picked up a few and some airtites.

 

Here's an interesting statement I read on Kitco.com today:

In order to reflect the current strong demand for Silver Maples and Silver Eagles, Kitco is temporarily increasing its current bid (buyback) price for these particular products. Please visit our Selling to Kitco page for more details.

It certainly appears that the silver market is strong right now...

 

yikes, $10.84!!!

I should have sold when it hit 20$!!! *angry*

 

dont worry when it gors to $5 you can be angry again

 

If it goes to $5 I'm gettin' the wheel barrow and headin' for the coin shop.

 

I've bought silver every day this week. I plan on cost averaging and I plan on keeping up my strategy. Thursday I also bought three Gold Eagles as this me be the opportunity of a lifetime. Or my heirs, are going to bury me in the desert. Because they won't be able to afford a funeral. Haha. Actually I think my experience with stocks has been invaluable in this market. BUY on fear. That's what I believe is happening. People are dumping to cut their losses. Remember a loss is only a real loss when you sell. Until then it just drops your networth on paper.
Since I don't run a shop anymore, I've been buying 90% at 8 x face Thursday and Friday. Bullion silver dollars have been $10.50. The gentlemen that owns the store, knows he won't have to sit on them and take a loss as I stop in every day and pickup what he bought the day before. He's guaranteed a very small profit so isn't afraid to keep buying and I'm going to the safe deposit box each day to drop off what I've purchased.
However, my position in life is different than most. I'm retired, I can afford the risk and have no dependents. This gives me a very free lifestyle to enjoy and try to make some fun money. I can't take it with me. My stock holdings are very limited to a couple blue chips and they are doing well. I also increase them each month and let the mutual funds float.
I also was afforded a good education with an MBA, when an MBA was somewhat rare. This allowed me to concentrate on my first love, coins, 20 some years ago.
I only hope they will treat you all as well as they have treated me. By the way, even living in Vegas I rarely gamble. Maybe a little Blackjack a couple time a month.
Vegas Vic